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European shares slip amid growth worries
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(Reuters) – European shares fell on Monday as investors parsed through a slew of earnings amid growth worries, with focus on a U.S. Federal Reserve policy meeting later this week.
(Reuters) – European shares fell on Monday as investors parsed through a slew of earnings amid growth worries, with focus on a U.S. Federal Reserve policy meeting later this week.
The pan-European STOXX 600 index fell 0.2% by 0711 GMT, with broad-based losses led by oil producers as crude prices fell. [O/R]
Dutch medical equipment maker Philips tumbled 9.8% after reporting a worse-than-expected drop in second-quarter core earnings, citing supply shortages and lockdowns in China.
After a survey last week showed euro zone PMIs unexpectedly shrank in July, a separate survey showed a number of industrial companies in Germany, Europe’s largest economy, are cutting production in reaction to soaring energy prices.
Investors now await German business morale data for July from the Ifo institute on Monday. It is expected to have fallen further to 90.2 from 92.3 in June.
(Reporting by Susan Mathew in Bengaluru; Editing by Shounak Dasgupta)
Economic growth refers to an increase in the production of goods and services in an economy over a period of time, typically measured by the rise in GDP.
Financial markets are platforms where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives, facilitating capital flow and investment.
Monetary policy is the process by which a central bank manages the supply of money and interest rates to achieve specific economic objectives, such as controlling inflation and stabilizing the currency.
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